May 29, 1997 |
An Orange County man who turned fugitive for a month after he was convicted of Southern California's largest stock manipulation scheme has been sentenced to seven years, three months in federal prison. Ahmad Naim Bayaa, 44, of Irvine, the principal architect of a $12.5-million scam, was caught in March as he left a Huntington Beach convenience store where he and a cohort allegedly tried to pass counterfeit checks. Charges of forgery and passing counterfeit checks are pending in state court.
June 21, 1990 |
In a recent filing with the Securities and Exchange Commission, Southland Communications Inc. said its cash flow is in "extremely critical condition" and it has laid off a quarter of its staff. The filing made June 14 paints a bleak financial picture of the paging-services firm, which is at the center of an SEC civil suit alleging stock manipulation and an FBI criminal investigation.
June 15, 1990 |
FBI agents searched the offices of Southland Communications Inc. on Thursday as part of a criminal wire-fraud investigation related to alleged manipulation of the company's stock. No arrests were made, said Fred Reagan, an FBI spokesman in Los Angeles. He declined to comment on whether agents seized records or questioned employees during the search.
February 25, 1997 |
One of two Orange County men convicted in Southern California's largest stock manipulation scheme failed to appear for sentencing and is being sought as a fugitive. Ahmad Naim Bayaa, 43, of Irvine, the principal architect of a $12.5-million scam, disappeared before he was to be sentenced Friday in Los Angeles. U.S. District Judge Richard A. Paez issued a warrant for his arrest.
May 15, 1990 |
Ahmad N. Bayaa was relishing the spotlight in August, 1988. In a high-profile ceremony at the Ritz-Carlton Hotel in Laguna Niguel, the then-35-year-old Palestinian businessman was wed by the Rev. Jesse Jackson to a Jewish woman from Yorba Linda. Before 400 guests, Jackson praised the couple for transcending ethnic prejudice, saying, "This marriage is America at its best" because it "represents joy in Laguna, hope in the world."
January 29, 1992 |
The former president of a Santa Ana paging company has agreed to pay back $736,935 in stock-trading profits to settle civil charges that he manipulated the company's stock price, the Securities and Exchange Commission said Tuesday. Ahmad Bayaa also agreed to resign as president of Southland Communications Inc., to pay $137,248 in interest fees and to place his 921,000 shares in company stock in a custodial account over which he will have no control, said Daniel R.